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China Resources Land wraps up issue of 6B yuan medium-term notes

China Resources Land Ltd. completed March 9 the issuance of 6.00 billion yuan worth of 5.38% medium-term notes due March 8, 2021.

The three-year term notes, which were issued to qualified investors, represent the first tranche of the diversified real estate developer's up to 20.00 billion-yuan shelf that was approved for registration in China in April 2016.

Proceeds from the issue will be used to pad up the group's liquidity and to fund its development projects.

As of March 12, US$1 was equivalent to 6.33 yuan.